17 September 2018
As Turks and Russians labor to bolster their respective currencies, to arrest their deterioration with respect to America’s F’eral Reserve “Dollar” I am reminded of sky-diver footage. They are all dropping, but from the perspective of F’eRD, as Lira and Ruble trim their parachutes to slow their descent it looks to the camera like they might be coming back up. It’s just an illusion.
As long as the world’s faith-based fiat currencies (“Fiat lucre!”) are backed by political integrity rather than such “obsolete relic[s]” as silver or gold, their value will continue to descend. Unlike falling bodies, however, their approach to zero is more asymptotic, so it feels smoother and less dangerous for now, but the end of the ride can be just as catastrophic.
These comments are sponsored by The Confederate Mint (purveyors of metallic securities in gold, silver, copper, and lead). For sample sheets of Metallic Certificates (total face value One Tenth Silver Dollar) send One Silver Dime plus a self-addressed stamped envelope; or Four United States Legal Tender Federal Reserve “Dollars” in scrip, check, or money order, to Greigh Area Associates, c/o Gene Greigh // 401 Rio Concho Drive; San Angelo, Texas; 76903